Peter Hans

Doomsday scenarios are always a fun exercise, especially those with merit. That said, there is one global political truth, no global leader wants catastrophe on their watch. To the extent that AI advances further widen the wealth gap, which does make sense, here are some thoughts

@n0kx_ @ramit @BillAckman They already pay property taxes, it doesn't matter if you actually use the property or not. This is an additional tax beyond standard property taxes. Many states also offer homestead property tax reductions for your primary residence, which wouldn't apply here.

@ramit @BillAckman Should people pay for property taxes if they aren’t using the city services? If not, why tax them for not using those services?

Non-residents who spend millions of dollars on NYC apartments help drive NYC’s economy. Most of the profit in condominium development is in the penthouses. The Ken Griffins of the world make NYC high end development viable, driving high-paying construction, brokerage, legal, marketing, and other jobs in NYC. We should be applauding Ken for spending $238 million in NYC, not attacking him for doing so. Importantly, non-resident owners of NYC apartments who leave their apartments vacant for much of the year are not a burden to NYC schools, services, or other resources while they drive growth in retail sales, restaurants, theater, and other important drivers of our economy. They also often support NYC non-profits with donations. Ken’s company is a major employer in NYC of very high paying jobs which drive a considerable amount of our tax base. We wouldn’t want him to move even more employees to Miami. These non-resident owners also already pay a lot of taxes including mansion taxes, real estate taxes, sales taxes and more. While @NYCMayor Mamdani likes the tag line ‘Tax the rich.’ Unfortunately, his policies will harm the constituencies he is supposedly trying to help. I can’t imagine the NYC construction unions are excited about his plan.

After being dormant for the past 8 years, interest in blockchain as a fintech enterprise solution has resurfaced. It's a combination of the regulatory environment and the long lead time that large institutions require, but it's here, real, and worth following: blog.hack.vc/cycle-tested-v…

We’re thrilled to announce our investment in @navaai. As AI scales, our thesis is that value is migrating from pure compute to trust and verification. 🧵

Hard to find us? Debuting the world premiere of the Hack VC Founders Hotline Need funding? Better call Hack Results guaranteed in <1 week (we have 9 figs+ to deploy, pls help us spend it)

In 1995, people "invested in the internet." Today, no one does. It is simply the inherent plumbing of nearly every successful business on the planet. We are at the same fulcrum with blockchain. The tech behind crypto is evolving into the fundamental infra layer for global finserv. Here's the latest from @peterhansVC 💡blog.hack.vc/cycle-tested-v…

@SenBlumenthal Get a life, they played in a casino. CT having a franchise is a joke. What’s good for fans is moving the team to a populous and diverse city that will support the team. CT 😂

WNBA put a full court press on blocking the Sun from staying in CT—deeply harmful to fans that live & breathe basketball. DOJ should investigate & stop such anticompetitive interference. ctinsider.com/sports/article…

@hosseeb overnight rates are what banks borrow from the fed window at. MMFs typically yield in the general neighborhood of fed funds, expense ratios are sub 10bps. In a declining rate environment a MMF could out-earn, but that's temporary. Not unreasonable to expect a MMF like yld

The fact that people expect to get FFR (Fed Funds Rate) from stables is a little bit of financial magical thinking. If Circle is getting FFR, and you as a USDC holder are also getting FFR, and USDC is full reserve, that's kind of financial alchemy, no? How is the same T-bill generating 2x the yield? Should not be sustainable in the long run to double dip FFR like that. "Getting paid for the riskiness of USDC / AAVE / smart contract risk" is the wrong frame--the stablecoin market has no intrinsic connection to the FFR unless all stables are perfectly transmissible in and out of treasuries, which they're not. You could apply a similar argument to bank savings accounts--which carry bank default risk above the FDIC insurance threshold--and also pay yield well below FFR. If you want to get treasury yield, you should probably own treasuries or something which is backed by treasury yield like USDtb or USDS. Easy enough on-chain now. (Investors in both Sky & Ethena)

pull up this Thursday for the very first <HACK>HOUSE in NYC @hack_vc luma.com/hackhouse

@CPrimeTeam @fintechfrank Adopting “crypto culture” was never a remote possibility

The job titles tell the whole story. Not a single "crypto trader" or "DeFi yield strategist" in the list. It is all custody, tokenization, product management. Wall Street is not adopting crypto culture. They are absorbing crypto infrastructure into existing rails and putting compliance people in charge of it.

Q1 2026 Crypto Hiring on Wall Street: • Brown Brothers Harriman — Head of Digital Asset Strategy • Nasdaq — Product Manager, Tokenization • BNY — Director, Tokenization • Fidelity — DeFi Product Manager • State Street — Digital Asset Product Management Lead • Bloomberg — Digital Assets Product Manager • S&P — DeFi Strategy & Planning The fabric of crypto is changing

Italian Breakfast!

@DefiIgnas It's a valid point, but difficult reality. There will certainly be protocols where the equity doesn't exist and value accrues solely to the token, but in this market, with the existing infrastructure, and without any disclosure requirements, that's very hard to pull off

I dislike this Across proposal so much: converting $ACX tokens to equity. Huge failure of crypto, especially if it becomes a new trend. It feels like a betrayal of the crypto spirit: investment access for everyone, anywhere, globally. US investors under 5M ACX need accredited investor status to participate in the equity exchange. ACX stops being freely tradable on DEXs. If they ever IPO, that liquidity goes to TradFi instead. It should be the reverse: tokenize equity. That would be progress for the industry. Yet the reasons for conversion are telling: - They believe the token is undervalued - They can't do effective BD as a DAO without a legal entity The founder said: "having a token generally hurts more than it helps." I hope other DAOs won't follow them. Especially Polymarket if they skip token altogether.

If you're heading to @blockworksDAS then stop by our office on 3/24 for a crypto & compute event! Shoutout/big thanks to our great partners @tectonicxyz luma.com/sryq7brm

@TexansJacob Good thing you aren’t the GM

@Jammson3529 @alpackaP No, stable coins are though. This is a network

@alpackaP Isn't $STABLE meant to be stable?👀👀

Three actually. The ticker is called $STABLE (+150% YTD)

@nic_carter @conor_lm I can’t tell if you’re serious here or not

@conor_lm Why don’t they just snap out of it?

has anyone tried explaining to people hooked on gambling apps that gambling is actually negative EV

I was an early investor in like 5+ multi-billion perp dexs that Hyperliquid eventually vanquished. Plus many of the biggest CEXs. Here is exactly how HL won: 1. HLP: every winning perp exchange used an internal market maker. Liquidity is THE product, you can't outsource it. FTX <> Alameda is the infamous failure case, but Jeff also bootstrapped HL with his trading firm. He then took it to the next level by democratizing access to that internal MMer with HLP. 2. Centralization: they launched with a permissioned chain, with the team as sole validators. Competitors were messing around with experimental chains like Starknet and Solana, some parts on-chain and some off-, it was a mess. HL's approach was clean and fast, but also took major reg risk that a US team could never have done. But it paid off, because... 3. The best product: sorry to my founders, but HL was the whole package. The UX, the speed, the auto-margining… wow. CeFi-level trading experience. 4. Airdrop and VC-less fair launch: great narrative to give all tokens to the users and only the users. That’s what crypto is about.

@nestagraphics @_c50galindo Correct, it’s a bad take and not the way the NFL cap works.

@_c50galindo this doesn’t impact that

Respectfully man, how are you this uninformed as a writer for the team? One google search or a trip to OTC’s website can tell you this INCREASES their cap space & gives them a better chance to sign offensive free agents

@IsTheBaron Dr. Al-Hashimi would not be happy

Return to office is called off! But I guess there's something poetic about paying 12% state tax for hand crafted, artisanal, bespoke, professionally licensed text

@Cody_Stoots From a cap math standpoint it’s the right move. OL heavy draft, so expecting/hoping for 2-3 assets on favorable contracts there. There will still be optionality for FA. It’s also the NFL, you have to manage the cap in 1-2 year windows

The Danielle Hunter extension has me preparing for far less financial investment in the offensive line than I had hoped.

@jdorman81 @arthur0x When @jdorman81 opens with “controversial take” you know the comment section is going to be 🔥

Controversial opinion: The biggest reason for the massive disconnect between crypto prices and crypto adoption is that 4 of the top 5 assets (by market cap) are largely uninvestable. $BTC - The quantum fear is not going away (even though it's a fairly easy technical fix, it's a much harder governance fix) - It's not cool to own BTC now that blackrock and JP Morgan dominate it (see rise in $ZEC) - It's not digital gold (in fact, actual tokenized gold exists) - It's not scarce (endless derivs and structured products make the 21mm cap useless unless people start using physical bitcoin, which no one does). - It's not an inflation hedge - It's not a medium of exchange (stablecoins are) $ETH & $SOL - high inflation outweighing any fee capture (this is why market cap goes up while price goes down) - Infinite blockspace relative to usage, with more L1 competition coming - Fat protocol thesis on life support (and other than that thesis, no one has ever made a good argument for why L1s actually capture value) - You need ~1000x more activity / transactions to warrant today's valuations (meaning SOL and ETH are not worthless, it's just VERY hard to justify their current valuations). (For the record, I'm bullish on both Solana and Ethereum's prospects for further growth (relative to other L1s), I just don't think their tokens capture much value from that growth). $XRP - Literally the opposite of good token design. The token does absolutely nothing, and has virtually no linkage to Ripple - Ripple sells ~$3-4 billion of XRP tokens per year to fund equity repurchases (people argue all day about the efficacy of token buybacks, yet no one seems to care that Ripple dumps tokens to buyback their own stock?) This is why crypto is so broken. The entire industry was built on 4 assets that all suck as investments, which is why all of the exchanges and brokers cater only to fast money traders and macro funds/CTAs instead of real fundamental investors (even though fundamental investors make up the majority of the investor world). Of these 4 assets, I'd say i'm most likely wrong about $BTC simply because it is entirely narrative/faith based, and that can change on a dime, plus BTC always goes up eventually. I find it impossible to underwrite Bitcoin as an investment, but I do understand why others like it. Can this change? I hope so. It's very hard for an industry to grow when the top assets go down, but not impossible. It would require massive rotation (which is what we're seeing in equities right now -- a rotation out of Mag 7, private credit, and tech and into healthcare, energy, etc). IMO, there are a LOT of good crypto investments right now that accrue value via the adoption of crypto and blockchain. Aligning your investments with the actual growth areas should work. Almost all of the growth and adoption of crypto and blockchain is happening in 3 financial areas: 1) Stablecoin/payments - harder to invest in pure plays, but there are some private stocks 2) DeFi -- tons of ways to capture this growth via equity-like tokens 3) RWA tokenizaton - while most of this value accrues to middlemen like Securitize and Blackrock, there are some pure plays as well. If this industry pivots away from BTC ETH SOL XRP and memecoins, and into the stocks and equity-like tokens that fuel the growth of DeFi, payments and RWAs, then price will start matching adoption.